(1)The functions to which this subsection applies are to be concurrent functions of the Payment Systems Regulator and the Competition and Markets Authority (“the CMA”).
(2)Subsection (1) applies to the functions of the CMA under the provisions of Part 1 of the Competition Act 1998, so far as relating to any of the following that relate to participation in payment systems—
(a)agreements, decisions or concerted practices of the kind mentioned in section 2(1) of that Act,
(b)conduct of the kind mentioned in section 18(1) of that Act,
(c)agreements, decisions or concerted practices of the kind mentioned in Article 101(1) of the Treaty on the Functioning of the European Union, and
(d)conduct which amounts to abuse of the kind mentioned in Article 102 of the Treaty on the Functioning of the European Union.
(3)But subsection (1) does not apply to functions under the following sections of that Act—
section 31D(1) to (6) (duty to publish guidance);
section 38(1) to (6) (duty to publish guidance about penalties);
section 40B(1) to (4) (duty to publish statement of policy on penalties);
section 51 (rules).
(4)So far as necessary for the purposes of, or in connection with, the provisions of subsections (1) and (2), references to the CMA in Part 1 of the Competition Act 1998 are to be read as including references to the Payment Systems Regulator.
(5)But subsection (4) does not apply—
(a)in relation to sections 31D(1) to (6), 38(1) to (6), 40B(1) to (4), 51, 52(6) and (8) and 54 of that Act, or
(b)where the context otherwise requires.